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Elon Musk’s Twitter is currently in a rough patch! Read more technology news
Good Morning Tech fam, here are some quick tech updates for you to follow!
What’s new today: Mukesh Bansal exits Tata Nu’s day-to-day operations. Tata Digital opposes the “grow at all costs” philosophy; Bansal may be retained as a consultant.
Fast Track Insights: Silbert, CEO of Winklevoss-Gemini, was criticized for “bad faith tactics.” 900+ million locked cash.
When co-founder and former CEO Jack Dorsey led the company, Twitter wasn’t what it is today. Musk laid off more than 50% of its workforce after the $44 billion acquisition, including hundreds from its India offices and several top executives, including Parag Agrawal. Twitter’s CEO has cut janitors and many employee benefits to cut costs. He also earns money by selling furniture, kitchenware and other items. To save money, Musk also stopped serving extra lunches. Musk is now taking cost-cutting measures to an extreme, forgoing rent for several months. According to an estimate, the rent paid by Twitter is only Rs. 1.12 crore so far.
According to reports, Mukesh Bansal has stepped down from Tata Nu’s day-to-day operations. In June 2021, Bansal, founder of fashion e-tailer Myntara, joined Tata Digital. However, he is no longer part of New’s core businesses, but people familiar with the situation said they would continue to provide advice, ET reported. According to The Economic Times, Tata Digital president Mukesh Bansal has stepped down as the head of its business arm, Tata Nu. It is said that Bansal is thinking of starting a new business. It is said that these ideas are still in the early stages. During this period, the company is undergoing major changes.
Due to the global outage the company is currently experiencing, many of Microsoft’s online services, including OneDrive, are temporarily unavailable. According to multiple reports on Twitter, people are said to be unable to upload or view data stored on Microsoft OneDrive. According to Downdetector, several Microsoft services are currently unavailable, including Azure, cloud services, Skype, Teams, and Microsoft 365. The reason for this widespread outage of Microsoft services is unknown. Noting that there are various reasons for internet service outages. Common reasons for technology outages include bugs in the deployment code or actual physical damage to the server.
According to self-proclaimed “longest contributing Bitcoin Core developer” Luke Dashiere, “basically all” of his Bitcoin holdings were stolen by an anonymous hacker on New Year’s Day. Although the total amount of stolen bitcoins is unknown, Dashjir tracked down a wallet address of just under 217 bitcoins, or about $3.6 million at current exchange rates. In a Reddit discussion, Dashjr later claimed that the PGP (Pretty Good Privacy) key for his Bitcoin wallet was responsible for the hack, and that the attacker’s IP address came from Colocrossing’s server.
Genesis, a cryptocurrency brokerage owned by Digital Currency Group (DCG), is in trouble. The company’s lending department said it owed $900 million to users of cryptocurrency exchange Gemini’s Find Us program and stopped allowing customer withdrawals in November because of the FTX collapse. One of Gemini’s co-founders has now criticized DCG’s CEO for what he called “bad faith termination tactics.” Gemini founder Cameron Winklevoss tweeted an open letter to Barry Silbert, DCG’s CEO and co-founder, criticizing what he called evasive actions when they tried to resolve the issue together.
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